) launched a takeover offer for the Swiss telecoms group in a deal valued at 6.8 billion Swiss francs .
“Consolidation between operators would be positive for the industry as it would reduce competitive pressure on prices and improve the return on capital,” Domenico Ghilotti, an analyst at Equita wrote in a note.rose 0.6% as investors focused on signs of a recovery in economic output in June, shrugging off a record 20.4% plunge in the second quarter, the largest contraction reported by any major economy.
“It’s been widely expected that UK will be in a recession. But the fact that May number was upgraded and the June number was better than expectations, is offering a little bit of encouragement,” said Russ Mould, investment director at AJ Bell.Markets globally have rallied this week on the back of improving data from China and Europe, signs of progress in developing a COVID-19 vaccine and a fresh U.S. stimulus.
Among other individual movers, Danish enzyme maker Novozymes fell 5.8% after it issued a weaker profit outlook than previously forecast.
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